Long-Term Care Planning 

 

You insure your health, your life and your business. You save for the future with contributions to your retirement accounts. And through your benefit programs, you help your employees do the same.

What if you or one of your employees developed a chronic illness, disabling condition or cognitive impairment?  How would you and your employees protect against what could be one of the greatest threats to financial security and independence?

A long-term care plan can help protect what you and your employees have worked hard to build.

Common employee benefits include health insurance, disability income insurance and retirement and savings plans. However, these benefits may not provide adequate coverage for employees or their families should they require long-term care services.

As part of your business’ overall benefit program, a long-term care plan can offer a number of benefits:

  • Protection against the financial impact of a long-term care event.
  • Emotional relief from having freedom to arrange care when needed and where desired.
  • Physical relief from being able to supervise care rather than having to personally deliver it
  • Continuity of productivity and reduction of employee absence if a family member requires care.
  • Recognition, reward and retention of employees and key contributors.
  • Distinction of your benefit program from that of competitors.

Create Awareness and Educate

Below are videos, articles and interactive tools that can help you, your employees, family and retirees better understand the potential impact of long-term care.

Northwestern Mutual’s Long-Term Care Awareness Study
Northwestern Mutual sponsored a poll highlighting the attitudes and motivations of Americans for planning for long-term care. More than 2,500 U.S. adults were surveyed (Conducted October 2012)

The Impact of Long-Term Care on Families
Alzheimer’s can impact any family. Hear from an Emmy-award winning broadcast journalist and other women who have been caregivers as they share the impact that providing long-term care for a loved one has had on their lives and families.

Basics of Health Care in Retirement
With better public health, improved health care and continuing medical advances contributing to increased longevity, it’s important to think about health care needs associated with living longer, from medical care to prescription drugs to long-term care.

5 Health Risks That Can Cost You
As you envision retirement – where you want to live, what you want to do, and how much it might all cost – you have a detailed budget to help plan your finances.  Not understanding your risks has high-cost implications and potentially derail your hard work. Consider these tips to complete your plan by adding a strategy and budget for your health care needs.

Who Will Pay for Mom’s or Dad’s Nursing Home Bill? Filial Support Laws and Long-Term Care
If your parents go into a nursing home, could you be liable for their bills? If your state has a filial support statute, you actually could be. Learn what you can do to help protect yourself.

Long-Term Care Calculator
We can’t predict the future, but we could eventually need caregiving services on a long-term basis. The cost of receiving these services can jeopardize not only our lifestyle, but also our family’s lifestyle and the financial security we’ve spent our lifetime establishing. This calculator is intended to help you better understand the costs of one such event, a long-term care event.

Northwestern Mutual Study: Women Understand the Realities of Long-Term Care, but May Not Plan Accordingly
Women may have a better understanding than men about the resources and options available to individuals facing a long-term care event. However, they’re significantly less likely to be taking action to protect themselves from the risks

The Economic Ripple Effect of Alzheimer’s Disease
Because it is an aging disease, concern about Alzheimer’s is mostly (and rightly) focused on patients and their families.  But Alzheimer’s can also have a significant impact on the worldwide business community.

Early Detection Key in the Search for Alzheimer’s Cure
There’s no cure for Alzheimer’s disease, an aging disease that destroys memory and thinking skills. And with 10,000 Baby Boomers turning 65 every single day, the clock is ticking to find potential treatments.

 

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